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Shanghai Futures Exchange
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About Shanghai Futures Exchange


Organized under relevant rules and regulations, the Shanghai Futures Exchange (SHFE), or the Exchange, is a self-regulated entity that is under the uniform regulation by the China Regulatory Commission (CSRC) and performs functions as specified in its By-laws and the state laws and regulations. Currently there are 12 futures contracts available for trading on SHFE , including the futures on gold, silver, copper, aluminum, zinc, lead, steel rebar, steel wire rod, fuel oil, natural rubber, bitumen and hot rolled coil. Recently, the Exchange has launched the Continuous Trading Program, or night trading, for gold, silver and non-ferrous metals futures.


 

Guided by the Concept of Scientific Development, SHFE amplifies its efforts to implement the strategic decision by the State Council to push ahead with the opening-up, reform and steady development of capital market. Adhering to the guidelines that are generalized as "Foundation Solidification, Reform Deepening, Promotion of Opening-up, Function Outreach, Regulatory Enhancement and Facilitation of Development", the Exchange organizes trading activities strictly according to the laws and rules, and earnestly fulfills its functions as a front-line regulator, in a bid to create a safe, orderly and high efficient market mechanism as well as a market environment featuring openness, fairness, justice, integrity and transparency. On the long run, the Exchange’s goal is to develop itself into a regulated, efficient, transparent and all-inclusive internationalized futures exchange, while in the next five years, is to establish itself as the leading exchange in Asia-pacific time zone with significant global influences on commodity futures, option and other derivatives..

The Exchange insists on stressing both regulation and service provision. It whole-heartedly offers comprehensive and prompt services to all the members and investors by maintaining the sound operation, steady development, promoting the reform and innovation, and deepening service. The Exchange implements Margining and Mark-to-Market mechanism. Designated settlement banks are responsible for centrally clearing the members’ trades every day, while the members would have to clear their own customers’ trading accounts. According to the Exchange’s physical delivery system, all contracts on expiration are for physical delivery within the specified delivery period. The Exchange certified delivery warehouses offer relevant services to both sides of delivery. Customer’s delivery must be handled through the members.

 

The basic tenet of the Exchange is to protect the legitimate rights and interests of investors, design and implement risk control and management system, perfect risk monitoring mechanism, and ensure the orderly operation of the markets.

 

Through satellite broadcasting network and public telecom network, the Exchange can simultaneously distribute real-time and delayed trading information via the authorized domestic and international information agencies. The real-time messaging service system and the telephone quotation service system enable the Exchange to offer dynamic trade information to the market users. And through its website (http://www.shfe.com.cn/ ), the Exchange can also release all types of statistics and related information on trading, delivery, open interests, inventory, etc.

 

Additionally, the Exchange provides consulting and training services to the members, investors and to the public by way of the news media coverage, telephone consultation, various training courses, foreign exchange, and etc.


PRODUCTS



Exchanger

Varieties

Code

Exchange margin%

Corporation deposit%

Special contract

Exchange margin%

Corporation deposit%

Notes

SHFE

Silver

AG

7

12

Aluminum

AL

8

14

Gold

AU

6

12

Asphalt

BU

8

14

Copper

CU

8

14

Fuel oil

FU

20

24

SPHC

HC

8

14

nickel

NI

8

14

1709

10

16

Holding more than 360,000 positions

Plumbum

PB

8

14

Rebar

RB

9

16

Bitumen

RU

9

16

1709

12

18

Holding more than 160,000 positions

Stannum

SN

8

14

Wire Rod

WR

20

24

Zinc

ZN

8

14




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